Investment regulation - Georgia
Holding restrictions
There are no restrictions on foreign investors or the foreign investments in Georgia.
In accordance with Article 43 of the Organic Law of Georgia on the National Bank of Georgia, the National Bank of Georgia shall accept the deposits of Treasury Office of the Ministry of Finance of Georgia.
As a depositor, the National Bank of Georgia shall receive and issue monetary funds and keep register of and effectuate other related financial services. On the basis of payment documents, the National Bank of Georgia shall issue the amount within the limits of the amount deposited on these accounts. The National Bank of Georgia may adopt a decision on payment of interests as per such deposits.
In addition, in accordance with the National Bank of Georgia Regulation on the Issue, Circulation, Registration and Redemption of Treasury Bills and Treasury Notes issued by the Ministry of Finance of Georgia N10/01-51 of 1 February 2010, government securities are sold via auctions. Only commercial banks are eligible to participate in the auctions.
Pursuant to Article 5 (Rules concerning the submission of bids), commercial banks have the right to submit bids in their own name (bank's portfolio) and on behalf of their clients (client's portfolio). It further defines that clients submit their bids through commercial banks. Article 2 of this regulation provides definitions of terms. In accordance with these definitions, clients of commercial banks are resident and non-resident individuals and institutions. Therefore, the Regulation on the Issue, Circulation, Registration and Redemption of Treasury Bills and Treasury Notes does not define any redemptions or foreign ownership with respect to government bonds.
Disclosure requirements
For details of the local domestic disclosure requirements, please refer to the Disclosure Requirements.